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Location: Macroeconomics Unit I - Measurement of Economic Performance
Discussion: GDP vs. GDP per capita
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kevinyeh kevinyeh |
GDP vs. GDP per capita
Feb 10 2008, 8:18 PM EST You know, I was wondering. Since GDP and GDP per capita actually measure different things, which one do governments find more important? Because it seems to me like most governments are really concerned about GDP, but don't they find the well being of their people important too? Shouldn't they put equal weight on the two different ideas? Why does one get so much more attention than the other? 1 out of 1 found this valuable. Do you? |
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jacqueszhang jacqueszhang |
RE: GDP vs. GDP per capita
Feb 10 2008, 10:37 PM EST To me, GDP seems like something that would LOOK a lot better. China can boast about its immense GDP because of its rate of development it's currently going through. GDP per capita however, is more of an accurate measure of the nation's wealth per person. It's when you're more concerned with "how can people be better off," versus, "how economically powerful are we?" Many countries (with the exception of Luxembourg I guess) would probably rather compare GDPs than GDP capita. Do you find this valuable? |
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Charlie.Gao Charlie.Gao |
RE: GDP vs. GDP per capita
Feb 12 2008, 12:47 AM EST Dang Jacques, I was going to say exactly what you said. Yeah, countries do it to brag about how well their economies are doing. But I'm sure there are countries that value GDP per capita more because it just looks better. Do you find this valuable? |
 MargaretLiu |
RE: GDP vs. GDP per capita
Feb 12 2008, 3:59 AM EST I think it depends on the political disposition of each country. Countries like China for instance, would prefer the importance of GDP and neglect the well being of their people. Other countries, like the USA, would be conscious of GDP per capita and possibly balance the importance of GDP and GDP per capita. Do you find this valuable? |
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kevinhuang kevinhuang |
RE: GDP vs. GDP per capita
Feb 13 2008, 5:18 AM EST I think only countries with very large populations can brag about the GDP compared to GDP per capita. Small european countries such as Luxemburg and the Vatican City might have really low GDP's, but have extremely high GDP per capita. So maybe its only for the bigger countries that you find boasting their GDP's while small wealthy countries boast GDP per capita. I think there should be equal weight on both since that will show the country as a whole and each individuals well-being. 2 out of 2 found this valuable. Do you? |